IMF Staff Country Reports

Sierra Leone: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Sierra Leone

Publication Date:

June 22, 2017

Electronic Access:

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Summary:

This paper discusses Sierra Leone’s Request for a Three-Year Arrangement under the Extended Credit Facility (ECF). In the near term, this ECF is expected to support important but difficult policies: ending routine foreign exchange auctions and eliminating numerous tax and duty exemptions while increasing infrastructure spending and bolstering the social safety net. The ECF will also catalyze maintenance of external support. In the medium term, the proposed arrangement will provide the framework for structural progress on revenue mobilization, public financial management and financial sector reforms, and increased reserves. The IMF staff supports the authorities’ request for the new ECF.

Series:

Country Report No. 2017/154

Subject:

Budget planning and preparation Expenditure External debt Public and publicly-guaranteed external debt Public debt Public financial management (PFM)